Pattern Group (NASDAQ:PTRN) Reaches New 52-Week Low – What’s Next?

Pattern Group Inc. (NASDAQ:PTRN)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $12.00 and last traded at $12.08, with a volume of 319561 shares changing hands. The stock had previously closed at $12.72.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PTRN shares. KeyCorp raised their price objective on shares of Pattern Group from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Thursday, November 6th. William Blair initiated coverage on shares of Pattern Group in a research note on Tuesday, October 14th. They set an “outperform” rating for the company. JPMorgan Chase & Co. lifted their price target on shares of Pattern Group from $18.00 to $21.00 and gave the stock an “overweight” rating in a report on Thursday, November 6th. Stifel Nicolaus set a $22.00 price objective on shares of Pattern Group in a research note on Thursday, November 6th. Finally, Robert W. Baird raised their target price on Pattern Group from $18.00 to $22.00 and gave the stock an “outperform” rating in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Pattern Group presently has an average rating of “Moderate Buy” and a consensus target price of $21.00.

Pattern Group Stock Performance

The business has a fifty day moving average of $15.25.

Pattern Group (NASDAQ:PTRN) last posted its quarterly earnings data on Wednesday, November 5th. The company reported ($2.19) earnings per share for the quarter, topping the consensus estimate of ($2.71) by $0.52. The firm had revenue of $639.66 million for the quarter, compared to analyst estimates of $570.78 million.

Insider Transactions at Pattern Group

In related news, Director Daniel Gay sold 1,300,000 shares of the company’s stock in a transaction dated Monday, September 22nd. The stock was sold at an average price of $13.02, for a total transaction of $16,926,000.00. Following the sale, the director owned 829,475 shares in the company, valued at $10,799,764.50. This represents a 61.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David K. Wright sold 9,414,286 shares of Pattern Group stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $13.02, for a total value of $122,574,003.72. Following the completion of the sale, the chief executive officer owned 29,418,585 shares of the company’s stock, valued at approximately $383,029,976.70. The trade was a 24.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information.

Institutional Trading of Pattern Group

Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. acquired a new position in Pattern Group during the third quarter worth $89,000. FNY Investment Advisers LLC bought a new stake in shares of Pattern Group during the third quarter worth about $137,000. Susquehanna International Group LLP acquired a new stake in shares of Pattern Group in the 3rd quarter worth about $137,000. SG Americas Securities LLC bought a new position in Pattern Group in the 3rd quarter valued at about $168,000. Finally, Greenland Capital Management LP acquired a new position in Pattern Group during the 3rd quarter valued at about $174,000.

Pattern Group Company Profile

At Pattern, we are on a mission to help brands accelerate profitable growth on global ecommerce marketplaces. Today, our proprietary technology and on-demand experts operate across more than 60 marketplaces to increase product sales to consumers in more than 100 countries. Utilizing more than 46 trillion data points and sophisticated machine learning and artificial intelligence (“AI”) models, we strive to optimize and automate key levers of ecommerce growth, including advertising, content creation and management, pricing, forecasting and customer service.